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FSA

Verrill

A Primer on COBRA Continuation Coverage for Health Care Flexible Spending Accounts

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It is a common practice for employers to offer employees a health care flexible spending account (“Health FSA”) option under a cafeteria plan. However, employers (and their COBRA administrators) may not be aware that Health...more

The Wagner Law Group

IRS Warns Companies are Making False Statements About Health Plan Reimbursements

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In IR-2024-65 (the “IR”), the IRS warns taxpayers that some companies are misrepresenting the circumstances under which food and wellness expenses can be paid or reimbursed under health flexible spending arrangements (“health...more

Partridge Snow & Hahn LLP

U.S. Department of Education Levies $14 Million Fine Against Liberty University under the Federal Clery Act

On March 5, 2024, the U.S. Department of Education (the “Department”) announced that Liberty University (“Liberty”) has agreed to pay a fine of $14 million for material and ongoing violations of the federal Clery Act. This...more

Morrison & Foerster LLP

Preparing for Investment (and Success) as an Early-Stage Alternative Protein Business

Our last two alerts in this series covered key considerations for early-stage companies in the alternative protein industry and provided an overview of financing in the alternative protein industry. This alert follows those...more

A&O Shearman

Wealth management by "family offices" in Poland and the licensing requirements

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In recent years, there has been an increased interest in Poland in the services of so-called "family offices", ie private wealth management. Undoubtedly, the demand for such services has grown with the increased affluence...more

Hendershot Cowart P.C.

Alternatives to Litigation in a Will Contest or Probate Dispute

When conflict arises in the settling of an estate – especially a high-net-worth estate – the parties involved may look to the courts to help resolve the dispute. Litigation is one way to settle probate disputes, but it is...more

Warner Norcross + Judd

IRS Increases Benefit Plan Limits for 2024

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The IRS has announced increased annual limits for retirement and other benefit plans for 2024. While the increases for 2024 are smaller than we’ve seen in prior years, they still may have a significant impact on plans and...more

Bass, Berry & Sims PLC

Flexible Spending Accounts: Require Substantiation or Risk Disqualification

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On April 28, 2023, the IRS Office of Chief Counsel issued Chief Counsel Advice Memorandum 202317020 (CCA Memo), with an important reminder to employers who provide health and dependent care flexible spending arrangements...more

Warner Norcross + Judd

Group Health Plan PCORI Fees Due by July 31

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As a reminder, the deadline for submitting Patient-Centered Outcomes Research Institute (PCORI) fees is July 31. Employers that sponsor self-insured group health plans should report and pay PCORI fees using the most recently...more

Jackson Lewis P.C.

What Medical Expenses Qualify as Tax Deductible Under Section 213 Of The Internal Revenue Code?

Jackson Lewis P.C. on

On March 17, 2023, the Internal Revenue Service (IRS) issued new frequently asked questions (FAQs) addressing whether certain costs related to nutrition, wellness, and general health are medical expenses under Sec. 213 of the...more

Morrison & Foerster LLP

Japan Committed to Fostering Growth of Web3 Businesses

A recent proposal issued by Japan’s ruling Liberal Democratic Party, along with various other current private- and public-sector initiatives, signals a strong interest in promoting investment in and the growth of an...more

Warner Norcross + Judd

IRS Significantly Increases Many Benefit Plan Limits for 2023 - Warner Norcross + Judd LLP

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The IRS responded to rising inflation with its recent announcement regarding the limitations applicable to retirement and other benefit plans for 2023. Many limits will have significant increases compared to previous years,...more

Vicente LLP

Lessons Learned from the Regulation of CBD Products in the United Kingdom

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As of January 2019, all consumable CBD products—including extracts and isolates—were confirmed as novel foods for England and Wales, and therefore must be approved by the Food Standards Agency (FSA) before they can be sold...more

Jackson Lewis P.C.

Self-Insured Health Plans: August 1st PCORI Fee Due Date is Rapidly Approaching

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The Patient-Centered Outcomes Research Institute (“PCORI”) is an independent nonprofit research organization that funds comparative clinical research, among other things. PCORI is funded through annual fees — provided for in...more

Dentons

Health Flexible Spending Accounts: What to do if your Health FSA is discriminatory

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In the first article of this Health FSA series, we covered how to determine if an employer’s Health FSA is discriminatory. In the second and final article of this series, we’ll cover what employers should consider if their...more

Jackson Lewis P.C.

Happy National Employee Benefits Day – – April 5, 2022!!

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Last year about this time, we wrote of how far we had come collectively in the world of employee benefits roughly one year after the onset of the COVID-19 Pandemic. We reveled at how we kept on keeping on, what we were able...more

Wiley Rein LLP

CFPB Fines Student Loan Servicer for Allegedly Misrepresenting Eligibility for Loan Forgiveness

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On Wednesday, March 30, the Consumer Financial Protection Bureau (CFPB) announced that it fined student loan servicer Edfinancial Services (Edfinancial) $1 million for allegedly misrepresenting Federal Family Education Loan...more

Jackson Lewis P.C.

More Clarity Regarding Employer Mandates for At-Home COVID-19 Testing

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As employers and insurers continue to establish programs to enable participants in group health plans to receive at-home COVID-19 tests at no cost, even without a prescription, the Department of Labor (DOL) has issued...more

Tucker Arensberg, P.C.

IRS and SSA Announce 2021 Indexed Numbers

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The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2022....more

Roetzel & Andress

IRS Announces That COVID-19 Related Personal Protective Equipment Qualifies As A Medical Expense Group Health Plans, Health FSAs...

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On March 26, 2021, in Announcement 2021-7, the IRS notified taxpayers that amounts paid for personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread...more

Faegre Drinker Biddle & Reath LLP

IRS Clarifies Pandemic-Related Relief for Dependent Care FSAs

As noted in our prior blog posts here and here, the Consolidated Appropriations Act of 2021 (the “Act”) includes several types of relief for flexible spending accounts (“FSAs”), impacting both health and dependent care FSAs. ...more

Faegre Drinker Biddle & Reath LLP

IRS Clarifies Relief for Health FSA Benefits under the Consolidated Appropriations Act of 2021

As noted in our prior blog posts here and here, Section 214 of the Consolidated Appropriations Act of 2021 (“Act”) permits employers to amend their flexible spending account (FSA) plans to help participants avoid forfeiting...more

Stoel Rives LLP

Outbreak Period to Be Applied on a One-Year Rolling Basis

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In this legal update, our employee benefits attorneys cover three recent health and welfare plan developments....more

Verrill

IRS Notice 2021-15 Provides Clarity Regarding FSA Relief Available Under Consolidated Appropriations Act Benefits Law Update

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Section 214 of the Consolidated Appropriations Act, 2021 (CAA) provides a substantial amount of flexibility for the operation of health and dependent care Flexible Spending Accounts (FSAs). The CAA did, however, leave many...more

Jackson Lewis P.C.

Top 5 Employee Benefit Plan Opportunities For Employers To Consider In 2021

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A spate of recent legislation and IRS guidance promises to make 2021 an active year for any employer seeking to provide its employees with a competitive array of employee benefits. My “top 5” list of employee benefits that...more

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